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Baird analyst Amy Junker this morning downgraded shares of Rosetta Stone (RST) to Neutral from Outperform, cutting her target on the provider of language instruction software to $26, from $30. Junker’s downgrade reflects concerns over the announcement late yesterday that CFO Brian Helman is stepping down.
“While we continue to view the company’s long-term growth prospects favorably, we are hard-pressed to recommend putting new money to work as we believe the timing of this development adds risk to the story given its pending next-generation product launch in Q3 and significant investments the company is making internationally,” she writes.
RST this morning is down $1.19, or 4.9%, to $22.97.
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